Growing a small scale business in Nigeria comes with challenges packed in different portions.
But does it always have to be that hard?
You can grow your small scale business in Nigeria in some practical ways that can help you get ahead of challenges even before they arise. Your small business in Nigeria could stand out among others. And just like the dream of anyone who owns a small scale business in Nigeria, you can expand and become a large business.
How’s all this possible?
With a PressOne business phone number, your small scale business will look bigger and more professional to customers, making your customers pay you what you’re worth
What is a Small Scale Business?
A small scale business is a company that:
- Has a limited number of employees (usually less than 50)
- Has a small/moderate amount of money invested
- Operates in a local area or a specific niche market
- Produces or sells a limited amount of goods or services
- Is often owned and managed by one person or a small group of people
These businesses are typically agile, flexible, and closely tied to their community or market.
Let’s get into 11 ways you can grow your small scale business in Nigeria.
Expansion Tricks: 11 Ways to Grow Your Small Scale Business in Nigeria
- Understand Your Target Market
- Target Customer Satisfaction
- Expand Your Product or Service Line
- Showcase Your Business at Networking Events
- Embrace Technology
- Establish Your Business Credibility and Trust
- Adapt to Change
- Monitor Your Financial Performance
- Invest in Hiring Experienced Talent
- Improve Your Supply Chain/ Your Product/Service Delivery
- Explore Access to Funding Options
1. Understand Your Target Market
There are questions you need to ask yourself when trying to grow your small scale business in Nigeria to identify more people who are interested in using your products/services. Some of them are:
- Who are those interested in buying more of my products?
- What industry would use my product if only they knew about it?
- What feature/aspect of my products/services are they most interested in?
- What is the age range of those who use our products?
- What problems do they face?
- What are their purchasing behaviors?
Knowing who you’re selling to allows you to tailor your products or services to meet their specific needs and preferences.
If you understand what they like, need, and want, you can sell them what they love. When you know who you’re selling to, you can make sure your products or services are exactly what they need. This helps you design your products or services in a way that people will actually buy.
A good customer relationship management software can help you achieve this. For example, a PressOne business phone number gives you the opportunity to integrate with a customer relationship management platform that makes you understand customer behaviour in terms of their purchases, requests and demographics.
Get Your Small Business Plan Checklist!
How ready is your small business idea? Fill in the form below to get a free guide for your small business plan
2. Target Customer Satisfaction
Have you ever used a product/service because someone online who isn’t affiliated to the company said they used it and they absolutely enjoyed it? They even list reasons why they love it and would also argue that they can’t use any other products asides that one.
What the company/brand has done to that customer is to make them happy and satisfied. And what do happy and satisfied customers do? They bring in more customers for you. They spread the good news of your service like the gospel of Jesus Christ. And are content with you because you’ve made their satisfaction your number one priority. They become loyal to you because you make them happy with what you deliver.
A lot of business owners wrongly think that pushing out more product features, pumping more money into advertising or pushing more of the products itself into the market, will help them sell more or grow their small scale business in Nigeria. But what happens when people know there’s a problem with your products, customers have been complaining about your features, but you’re not listening to them?
The fun fact is, existing customers who are meant to promote your business will be the one advising potential ones not to us patronize you. Word of mouth reviews are powerful, especially now when everything id digital. All it takes is a hit tweet and a business is either reaping the benefits or churning out customers.
So how can you ensure your customers are happy? Simple. Listen to them. As someone who wants to grow their small scale business in Nigeria, you should have a business phone number with a call recording feature.
For example, a PressOne business phone number has a call recording feature which you can use to play back interactions between your customers and your sales and customer support team.
You can easily get answers to these questions:
- What are my staff saying to my customers on the phone?
- How are they selling to them?
- Did they attend to a potential customer’s request very well?
- How did they respond to a complaint from a customer?
With this call recording feature, you can know how best to coach your sales and customer support team so they can sell better to customers and attend to their complaints in a better way.
For You:
- 7 Ways to Register a Business Name in Nigeria
3. Expand Your Product or Service Line
Instead of just selling one thing, you offer different things that people might like. This helps you reach more customers who might have not been interested in your products initially, but are interested in a feature you just added to it.
For example, if you have a showroom that sells phones. You could consider adding screen guards, power banks and other phone-related gadgets to what you’re selling because there are some people that are not interested in buying a phone, but in buying a powerbank. This brings in a whole new bunch of customers for you.
Infact, some of the new customers who visit your showroom might eventually decide to purchase a phone when they need it. This means your new customers get exposed to new varieties of products you’re selling, as well as the existing ones you have.
By offering more choices, you can attract new customers and keep your old ones happy.
Infact, you can decide to go global with a PressOne U.S. number that allows you expand your business to the U.S. and connect with potential international clients
4. Showcase Your Business at Networking Events
Showcasing your business at networking events can help grow your small scale business in Nigeria in so many ways. It increases your visibility. You can share your business to people who are bound to be interested in it at expo events. Sharing your business with a large audience, creates awareness and brings in potential customers.
For example, you own a small bakery in Lagos. At a networking event, you showcase your delicious pastries and share your business card with attendees. This exposes your business to new customers. You could even meet potential partners, suppliers, or collaborators who can help your business grow.
At the same event, you meet a cafe owner who is interested in supplying your pastries to their customers. This leads to a new business partnership. You could also receive valuable feedback from attendees, helping you refine your products or services.
Attendees suggest new flavors or packaging ideas for your pastries, which you can implement to improve your offerings.
By showcasing your business at networking events, you can increase visibility, make new connections and receive valuable feedback which helps you grow your small scale business in Nigeria.
Others Found This Helpful:
- 60+ Top Greeting Messages For Businesses (Download List)
5. Embrace Technology
Embracing technology can help grow your small scale business in Nigeria because it means you’ve chosen to make things easier for your customers. Do you have a business where customers have to pay online? Integrate online payment options into your website/app so it becomes easier and secure for your customers to pay you.
Do you receive numerous business calls a day from new, existing and potential customers calling to make requests about your business? Get a PressOne business number to manage your calls better. It’s a single number everyone on your team can use. And unlike a sim card, everyone can use it to make and receive calls at the same time without interruption, either on their phones or their laptops.
Infact, you can leverage our IVR (Interactive voice response) or call menu feature so that you don’t have to put your customers on hold at all. When they call you, they are first greeted by an automated professional caller greeting. After this, the call menu asks them to select what products/service they want. When they select the option, it automatically transfers them to the right department/staff who is available.
These features make your business look like a big, professional one. Infact, customers will not hesitate to pay you what you’re worth because the level of organization and professionalism you’re projecting on your calls shows them that you do not look like a small scale business.
Stand out among other businesses and stop using your personal phone number or a phone with a sim card as your business number. It makes you look smaller than you are and doesn’t show that you’re professional. If you want to grow your small scale business in Nigeria, you need to invest in affordable tools that can help you scale easily.
To make it easy for you, PressOne has made getting a good business phone number affordable for African businesses. You can get a free demo here and see how it works.
6. Establish Your Business Credibility and Trust
A brand that can be trusted is a brand customers want to identify with.
Establish your business as a credible player in the industry, building trust with potential customers.
Customers are more likely to return and refer others to a trusted business. Satisfied customers share their positive experiences, attracting new customers.
Other businesses are more likely to partner with a credible and trusted business because of the reputation it has been projecting.
A credible and trusted business stands out from competitors because of the quality of the products/services it offers. Your quality can draw in new customers and help you gradually grow your small scale business in Nigeria
People want a brand that has credibility and whose product does exactly what it says, and even exceeds expectations.
By establishing credibility and trust, you can build a loyal customer base, attract new customers through word-of-mouth marketing, secure partnerships and collaborations, and gain a competitive advantage, helping your small scale business grow in Nigeria.
7. Adapt to Change
You need to stay relevant in your business niche by keeping up with industry trends and consumer demands.
For example, let’s say your small scale fashion business in Lagos notices a shift or growing demand for online shopping in Nigeria. You adapt by creating an e-commerce platform, expanding your customer base beyond physical store locations.
Also, you need to stay ahead of competitors by embracing change. You don’t have to wait for your competitors to do it before you do. Your fashion business can introduce a “made-to-measure” service using 3D scanning technology, settingting you apart from competitors and attracting customers seeking unique, tailored clothing.
This also helps you meet evolving customer needs and preferences. When you notice customers increasingly prioritizing comfort and practicality. You adapt by introducing a new line of functional, yet stylish clothing, meeting this changing demand.
Adaptation helps your business weather unexpected changes or challenges. For example, a sudden change in government regulations affects your supply chain. You adapt by finding new, local suppliers, ensuring uninterrupted business operations.
The reason most businesses die out or lose their relevance is because they refuse to adapt or evolve with customers growing demands. You need to be able to embrace change so as to easily grow your small scale business in Nigeria.
8. Monitor Your Financial Performance
Monitoring your financial performance helps you track how your business is doing financially. This involves regularly checking your income (sales, revenue), expenses (costs, spending), profits (income minus expenses) and cash flow (money coming in and out)
By monitoring your financial performance, you can easily identify areas where you’re making money and where you’re losing money, make informed decisions about pricing, spending, and investing and set realistic financial goals and targets
This will also help you adjust your business strategy to improve performance and make informed decisions about funding and investments
Regular financial monitoring helps you stay on top of your finances to avoid financial surprises and make data-driven decisions. This can really help you grow your small scale business in Nigeria
Think of it like driving a car – you need to check your dashboard (financial performance) regularly to ensure you’re on the right road, avoid running out of fuel (cash), and reach your destination (business goals).
You Might Like:
- How to get a Company Phone Number, a step-by-step guide for an African Phone Number
9. Invest in Hiring Experienced Talent
Hiring talented and experienced staff can help grow your small scale business in Nigeria because they bring new skills and expertise to the table. This helps your business in so many ways by increasing productivity and efficiency, improving customer service and satisfaction and enhancing innovation and creativity
An experienced staff can easily help you make informed business decisions, develop effective strategies, solve complex problems and even train and mentor junior staff
A talented staff can help you develop new products or services, improve existing ones, identify new business opportunities and build strong relationships with customers and partners
By hiring the right people, you can build a strong team that increases morale and motivation, reduces staff turnover and improves your business’s reputation
Having a skilled and experienced team can be the key to differentiating your business and driving growth.
10. Improve Your Supply Chain/ Your Product/Service Delivery
Improving supply chain/product or service delivery can help grow your small scale business in Nigeria by ensuring timely and consistent delivery of products/services.
This helps you get products to market faster and reduces stockouts and overstocking. You will easily meet customer expectations and demands and increase customer retention and referrals
11. Explore Access to Funding Options
Seeking access to funding options can help provide the necessary capital you need to invest in new equipment, technology, or infrastructure, expand operations, products, or services and enhance marketing and advertising efforts
Funding options include loans, grants, or investors. Each option has its benefits and requirements, and businesses can choose the most suitable one based on their needs.
Access to funding enables you to improve product or service quality and expand customer base and market share
By exploring funding options, you can overcome financial constraints, achieve growth, and reach your full potential as a small scale business in Nigeria.
Grow My Business With PressOne
Read more:
- Get a Phone Number in Nigeria, Without A Sim Card
10 Small Scale Businesses You Can Start From Home in Nigeria
Here are 10 small scale businesses you can start from home in Nigeria
- Online Tutoring
- Blogging/Vlogging
- Freelance Writing
- Virtual Assistance
- E-commerce
- Digital Product Creation
- Social Media Management
- Graphic Design
- Social Media Management
- Digital Product Creation
1. Online Tutoring
If you’re knowledgeable in a subject, you can offer tutoring services online. With platforms like Zoom, you can teach students from anywhere in the world.
2. Blogging or Vlogging
Share your passions, expertise, or creativity through blogging or vlogging. You can earn money through ads, sponsorships, or affiliate marketing.
3. Freelance Writing
If you have good writing skills, you can offer freelance writing services to businesses or individuals.
4. Virtual Assistance
Provide administrative, technical, or creative assistance to clients remotely. Tasks can include email management, social media, and data entry.
5. E-commerce
Sell products online through platforms like Jumia or your own website. This could include handmade items, clothing, or digital products.
6. Digital Product Creation
Develop and sell digital products like ebooks, online courses, or software.
7. Social Media Management
Help businesses manage their social media presence.
8. Graphic Design
Create designs for websites, social media, or print materials.
9. Content Creation
Write articles, create videos, or design graphics for businesses.
10. Dropshipping
Sell products without holding inventory, fulfilling orders directly from suppliers.
How To Start A Small Scale Business In Nigeria From Home
Here are 10 ways you can start a small scale business in Nigeria from home.
- Identify a realistic business plan
- Conduct market research
- Develop the business plan
- Secure funding
- Register your business
- Invest in essential equipment
- Build a strong brand identity
- Build an online presence
- Implement digital marketing strategies
- Network with potential customers
What Are The Top 10 Small Scale Businesses In Nigeria?
Here are the top 10 small businesses in Nigeria:
- Food Business
- Blogging
- Event Management
- Laundry
- POS Business
- Real Estate
- Tutoring
- Affiliate Marketing
- Social Media Marketing
- Rental Services
Conclusion
Growing a small business in Nigeria is no small feat. It requires dedication, strategy, and a deep understanding of your market. By implementing these tips, you’re well on your way to transforming your small business into a thriving enterprise. With determination and the right approach, you can definitely achieve remarkable success.
Are you ready to take your small business to the next level? Try PressOne today and let’s help you get started
